Maybe made as a finial of some sort, or maybe just a carved wooden valentine rosebud?! I just like it as an object, which could be used as a paperweight or stuck in a vessel, or just propped somewhere. Or gifted to one's everlasting love! I don't think it's terribly old but it definitely has some age.
7 7/8" l x 1" x 1". A little dryness/roughness around one edge of the petal (which I'm only noticing in magnified photos) and a mark from an an old sticker on one side of the post near the bottom but overall very good condition.